Back Employment/Payroll Tax and Trust Fund Penalties
As an employer, you are responsible for withholding state and federal taxes from your employees and paying them to the government. Failure to do so could result in serious penalties and interest. If you are having employment tax issues or are at risk of being assessed a trust fund penalty, having a creative Seattle employment tax attorney is a must. At Insight Law in Seattle, Washington, our tax attorneys are focused exclusively on helping business owners resolve tax disputes with as few penalties and interruptions to their business as possible.
Employment tax issues have a way of quickly snowballing. It makes sense to involve an attorney who is deeply familiar with taxation law as early as possible to increase your chances for a favorable outcome.
Effective Resolutions to Employment Tax Issues
Withholding taxes such as federal income tax, FICA and Medicare tax are often referred to as trust fund taxes because they are collected from employees and held in a trust fund until they are paid to the government. In hard economic times, businesses may turn to these withheld taxes to fend off creditors or fund their businesses. Without legal intervention, this situation can quickly snowball.
If these taxes are not paid to the government on time, the persons responsible for paying them could be held personally liable for the full amount through the Trust Fund Recovery Penalty (TFRP). The IRS can go after directors, officers, partners, sole proprietors, accountants, bookkeepers and any other employee who had control over the funds and willfully diverted them. If you are being targeted as a responsible person by the IRS, it is important to have an attorney present. What you say during this interview could determine whether you will be personally liable for the employment taxes owed by the company.
Employment tax disputes can seriously disrupt your business and may even lead to criminal prosecutions. Our tax lawyers understand the seriousness of this situation and will work quickly to protect your rights and minimize penalties and interest. We will explore all options for resolving the issue and keeping your business going, including negotiating a payment plan or an offer in compromise with the IRS. If you were not responsible for the nonpayment of taxes in question, we will vigorously protect your rights.
Arrange a Free Consultation With a Seattle Payroll Tax Lawyer
Our firm provides top-notch client-focused legal representation at an excellent price. If Insight Law cannot provide a solution, there is no risk and you will owe nothing. Call or contact us by e-mail to arrange a free initial consultation or case evaluation directly with a tax attorney at our firm.